Search Results for: economic

October 13, 2014

HS2 will generate £40 billion in economic benefits and a surge of investment in office space, claims new report

by Mark Eltringham • News, Property, Public Sector

According to a report published today in The Daily Telegraph, the UK’s new HS2 high speed rail network will encourage housebuilding and commercial property development as part of a £40 billion boost to the UK economy. The report, produced by consultants EY, also suggests that new developments around the main stations along the route, including Birmingham, Manchester and West London would generate some £1 billion a year before the route’s completion in 2035, including some 850,000 sq ft of new office space. The newspaper claims the full report will be released by the Government this week as part of its campaign to win support for the controversial scheme and that its content will be a major talking point at this week’s MIPIM which takes place for the first time in London. It was revealed recently that the Government now expects the scheme to cost £73 billion, a figure which critics, including Mayor of London Boris Johnson claim could be spent more wisely.

January 31, 2014

Economic recovery may be constrained by lack of skills and office space

by Mark Eltringham • Property, Technology, Workplace

There are signs that the nascent recovery in the UK economy is already starting to put pressure on the availability of skilled employees and appropriate commercial property for the most rapidly growing sectors. While the Government has announced that the UK’s economy has been growing at its fastest rate since 2007, a new survey published by the UK Commission for Employment and Skills (UKCES ) has claimed that nearly a quarter of vacancies in the UK have gone unfilled because of a shortage of much-needed skills. At the same time, claims a new report from DTZ, demand for commercial property is strengthening with take-up growing across the country while the availability of Grade A office space is declining rapidly.

January 27, 2014

Cities report highlights skewed nature of UK economic recovery

by Mark Eltringham • News, Property

The Centre for Cities has today published its seventh annual report into the economic conditions in the 64 largest urban areas in the UK. The Cities_Outlook_2014 report paints a picture of a patchy economic recovery across the UK, with many cities such as Edinburgh, Birmingham, Manchester, Nottingham, Liverpool and Leeds seeing an upturn in their economies, but one that lags significantly behind that of London. The capital continues to disproportionately attract investment and people from across the UK and overseas, sometimes to the detriment of other towns and cities. The report argues that more power and finding needs to be devolved away from London to ensure that the UK enjoys a sustainable and balanced economic recovery.

December 2, 2013

Mid-sized firms are unsung champions of the economic recovery says CBI

by Sara Bean • News, Workplace

Medium-sized businesses (MSBs) are making a significant contribution to jobs and growth across the UK. Between March 2010 and March 2013 they have created 185,000 jobs, a 4.1 per cent increase compared with 1.9 per cent by large companies and 2.8 per cent by small firms. New CBI research published today shows that despite only accounting for 1.8 per cent of the UK private sector, MSBs, which employ between 50-499 people and have a turnover of £10-100 million, now employ 4.7 million people across the UK – 16 per cent of the total UK workforce. The CBI has launched #MSBMonday to boost recognition for MSBs and is calling on local government and policy makers to do more to recognise and support medium-sized businesses as their local champions. More →

October 25, 2013

Economic recovery, the changing psychological contract and the future of the office

by Mark Eltringham • Comment, Facilities management, Flexible working, Workplace design

There has always been a link of one sort or another between the labour market and office design. So, as the UK’s unemployment statistics continue to fall, they remain moderately high and there continue to be structural changes in the nature of work, typified by this year’s debate about the growing use of zero hours contracts. You have to wonder what impact structural changes, levels of unemployment and redundancy (around 4 million in the UK since 2008) have had on the way we manage and design our workplaces. There is no doubt that the downturn combined with the structural changes in the way we work have had an effect on demand for commercial property, but what will it all mean in the longer term?

July 16, 2013

Corporate Real Estate executives predict strong global economic outlook

by Sara Bean • Facilities management, News, Property

The global economic outlook is strong for the second half of 2013, while the prospects for corporate growth and expansion are also increasing, according to the views of corporate executives surveyed in June for the new CoreNet Global Confidence Index. Nearly two-thirds (62.5%) rated their outlook on the global economy for the coming six months as optimistic to very optimistic, compared to a year ago. Most (72.4%) reported the likelihood that flexible, open workplace strategies will increase, while space per work setting and/or work settings per supported worker will be reduced.

March 6, 2013

Economic benefits of green buildings highlighted

by Sara Bean • Environment, Knowledge, News, Property

worldInHands

Green buildings can be delivered at a price comparable to conventional buildings, with investments recouped through operational cost savings and, with the right design features, create a more productive workplace, says the World Green Building Council (WorldGBC). A new report, which looked at the benefits from green buildings received by different stakeholders throughout the life cycle of a building, “synthesizes credible evidence from around the world on green buildings into one collective resource, and the evidence presented highlights that sustainable buildings provide tangible benefits and make clear business sense,” said Jane Henley, CEO of WorldGBC. More →

January 28, 2013

Economic boost for UK builders with Green Deal launch

by Sara Bean • Environment, News, Property

The Green Deal launches today to help improve the energy efficiency of the UK’s built environment by enabling householders and businesses to secure the up-front capital to make energy efficiency improvements to their buildings. Refurbishing existing buildings to new standards and turning them into good green assets has recently been identified as one of the best bets for the property sector in the year ahead and today UK-Green Building Council’s Paul King said the launch of the energy efficiency scheme could help create jobs and stimulate economic activity.

April 17, 2025

People’s expectations of work have changed forever (and they think office work should pay better than remote work)

by Neil Franklin • Flexible working, News, Workplace

The Covid-19 pandemic and the rapid shift to remote work have had a “radical impact” on the global workforce, particularly among younger employees who began their careers during this unprecedented period, according to new research published by BSI in collaboration with the think tank ResPublica. The study, part of BSI’s Evolving Together series, claims to provide a comprehensive picture of a workforce cohort shaped by the pandemic and explores how these formative experiences continue to influence their expectations and behaviours. Drawing on a global survey of 4,700 individuals who entered the workforce during or since the pandemic, as well as focus groups and international literature reviews, the research sets out to paint a nuanced portrait of the so-called “hybrid generation”. More →

April 7, 2025

Firms scale back recruitment plans in wake of National Insurance hike

by Neil Franklin • News, Workplace

Nearly half of all companies across the UK are scaling back recruitment plans because of the hike in employers’ National Insurance which comes into effect on April 6th, according to a new poll by Reed. The survey found that 46 per cent of firms said that recruitment decisions would be impacted due to the tax increase, with many reporting that they were already not hiring or postponing recruitment. Reed say the findings demonstrate the negative impact the increase in employer’s NI is having on the labour market, which has already seen vacancies fall for a record period. More →

April 2, 2025

Office fit out costs rise as firms adapt to new ways of working

by Neil Franklin • Environment, News, Property

According to a new report from JLL, the office sector is again taking ‘centre stage’ in commercial real estate as companies worldwide adapt hybrid work policies to encourage greater in-office attendance. However, this renewed focus on office spaces comes at a cost, with businesses facing rising expenses to design and fit out their work environments. According to JLL’s newly released Global Office Fit-Out Costs Guide 2025, 59 percent of organisations globally plan to increase investment in office space design and fit-outs over the next five years. The report, which analyses data from 68 cities across 40 countries, highlights significant cost variations, key cost drivers, and the growing demand for sustainable office spaces. More →

April 1, 2025

British workers now entirely unproductive, claims report

by Mark Eltringham • News, Wellbeing, Workplace

The overwhelming majority of UK workers don’t do anything productive at all, according to a new report published today. The study of available research into the illnesses, injuries, distractions, wastes of time, procrastinations, productivity drains and paralyses that afflict British workers found that the annual cost to the British economy is around £1.8 trillion, equivalent to 98.9 percent of GDP.